Bangalore: In what is believed to be one of the biggest PE investment made to date in the emerging market for analytical services, Mu Sigma closed a $108 million investment round led by General Atlantic, who invested $93 million and the rest came from the existing investor Sequoia Capital. The company has raised $25 million in April this year led by Sequoia Capital and with the recent round of funding. Sequoia Capital has increased the stake in Mu Sigma.

Head quartered in Chicago, Mu Sigma was founded in 2004 by  Dhiraj Rajaram. It has more than 50 Fortune 500 companies, including Microsoft and Dell as their clientele.It has main delivery center in Bangalore India. Mu Sigma is a provider of decision science and analytics services, helping companies institutionalize data-driven decision making, by integrating the disciplines of business, math and technology in a sustainable global delivery model. It works with market-leading companies across multiple verticals, solving high-impact business problems in the areas of Marketing, Supply Chain and Risk Analytics.

Shailendra Singh, Managing Director, Sequoia Capital, said, “Mu Sigma has world-class analytics capabilities, a unique operating model and a refreshing and unconventional culture that continues to create tremendous client impact for dozens of Fortune 500 companies.”

Mu Sigma plans to use the fund to accelerate its growth in the burgeoning analytics services market. also, a part of the investment will be used to purchase shares held by existing shareholders, all of whom will continue to have stakes in the company. The company has grown rapidly since its establishment. 2008-2010 revenue growth of 886 percent earned Mu Sigma a spot in the Inc. 500 list of America’s fastest-growing private companies.

Bill Ford, CEO, General Atlantic, said, “We are excited to partner with the clear market leader in the rapidly emerging field of analytics and decision sciences for large global enterprises. We have long known and admired Mu Sigma for the strength of its management team and its innovative service offerings. The Big Data phenomenon is creating huge challenges for corporations as they look to better harness information to accelerate and improve decision-making, and Mu Sigma is an excellent antidote. We look forward to working together in continuing to build a globally pre-eminent analytics company.”

The current investment represents a broadening of the firm’s shareholders support and a strong endorsement by General Atlantic, one of the world’s largest growth equity investors with a successful 31-year track record. “Genral Atlantic brings a global perspective, experience and relationships that will be very valuable to us as we continue our growth globally. We greatly value the network and expertise GA will add and look forward to a strong partnership. With General Atlantic and Sequoia Capital as investors, we now have both a world-class private-equity firm and a world-class venture capital firm behind us. Their experience and connections will be extremely valuable as we take Mu Sigma to the next stage of growth,” said Dhiraj Rajaram, Founder and CEO, Mu Sigma.

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, GA manages $17 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, and several other places.

Sequoia Capital works with founders of startups who want to turn business ideas into enduring companies. It has partnered with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, and many more.